Corporate governance developed over centuries as societies tried to limit corporate power and protect investors. Early scrutiny focused on major trading companies such as the British and Dutch East India companies. Later milestones included the 1890 Sherman Antitrust Act, which addressed monopolies, and U.S. securities laws passed in the 1930s after the Great Depression. In 1976, after a wave of corporate scandals, the Securities and Exchange Commission pushed the New York Stock Exchange to require listed companies to form independent audit committees.
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